New York Life Survey: Americans Plan to Reduce Debt and Save More

A majority of Americans plan to reduce their debt and save more, according to a new report.

New York Life Insurance Co., New York, published this finding a November survey, New York Life Kitchen Table Pulse. Conducted by Ipsos North America, New York, the survey polled 1,000 adults aged 30 and older.

Fifty-seven percent of the survey respondents say they plan to reduce their debt in 2012. And 50% plan to save more.

The survey also reveals Americans’ continuing concerns about their financial future. In the year ahead only 30% agree that their family will be more financially secure and better prepared for the unexpected. And just 24% believe they will be in better financial shape for retirement.

Among the survey’s other findings:

● Those most likely to say that they will reduce their debt in 2012 include those aged 45-59 (65%), men (61%), married adults (61%), and full-time workers (60%).

● Adults ages 30-59 are more likely than not to plan to save more next year than are those who are older (55% vs. 37%).

● 14% of Americans report they plan to seek professional help managing their finances in 2012.

Reprints Discuss this story
We welcome your thoughts. Please allow time for your contribution to be approved and posted. Thank you.

Most Recent Videos

Video Library ››